BitBoy Crypto, also known as Ben Armstrong, recently shared insights into the possible outcomes of the ongoing legal battle between Ripple and the SEC. He believes that if the two parties settle their differences, XRP’s value could skyrocket. Moreover, such a settlement could finally clarify that XRP is not a security, removing a major hurdle for its growth.
Sounds good, right? Here’s some more insight.
In a chat with Fox News, BitBoy Crypto discussed rumors suggesting that Ripple and the SEC might reach a settlement soon. He thinks this could boost XRP’s price, especially as the broader market turns bullish. This news has sparked excitement among XRP investors closely watching the legal showdown.
The SEC v. Ripple lawsuit is nearing its conclusion, with both parties submitting final legal briefs. Today’s deadline marks an important step as the court will rule on sealing motions. If the court decides to keep Ripple’s information private, it could boost XRP’s price and make investors feel more positive. However, investors might be worried if the SEC gets its way and more details come out.
After today’s hearings, the judge will decide which information will stay private. Then, within 14 days, the parties will make redacted versions of the documents public.
Despite a previous ruling stating that XRP is not a security, the legal battle continues to weigh on the cryptocurrency. Investors are wary due to uncertainty about XRP’s regulatory status, causing its price to fluctuate between $0.530 and $0.4965, currently at around $0.515.
BitBoy Crypto’s mention of a potential “parabolic run” in XRP’s price during the early stages of a bullish market highlights the optimism surrounding XRP’s future. Additionally, another analyst, Dark Defender, predicts XRP could reach $18 based on the Elliot Wave theory. However, he warns of short-term volatility, suggesting a temporary drop to $0.39 before a bullish rebound.
Despite the legal uncertainties, XRP continues to rise. Is now the right time to invest? Share your thoughts on the unfolding situation.
Also Check Out : Top Ripple 2024 Predictions: Less XRP Sales, More Stablecoins & IPOs?
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